(Answered) Recording actual overhead and overhead applied to jobs

Accounting

Recording Actual Overhead and Overhead Applied to jobs During the month of August, Start Plastics applied overhead to jobs using an overhead rate of $3 per dollar of direct labor. Direct labor in August was $100,000. Actual overhead in August was $260,000. Assume that actual overhead was composed of the following items. Indirect materials $40,000 Indirect labor 80,000 Utilities 25,000 Depreciation 60,000 Repair expense 55,000 Total $260,000

Required:

a. Prepare a journal entry to record overhead applied to jobs.

b. Prepare a journal entry to record actual overhead.

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